Asheville, NC (CompNewsNetwork) - Much has been written about the sweeping health care reform law and its immediate and long-term effects on employers. While there is still much confusion and interpretation surrounding the law, it is clear that the law will impact costs and employers should strategize how to maximize benefits and minimize adverse effects.
Here are some strategies for employers to consider now:
1. Grandfathered plans
A "grandfathered health plan" is any group health plan that was in effect on the date of the law's enactment, March 23, 2010. While it is known that new employees can be added to grandfathered plans and covered employees can add dependents, there is limited guidance about what modifications can be made to existing plans without jeopardizing grandfathered plan status ...read more